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Ireland: Fee-free accounts? Don't bank on it

Are you paying too much? Banking charges

PEOPLE often say there is no such thing as a free lunch and the same applies to free banking. On the surface, spurred by a customer-friendly switching code, it appears that all the leading banks now offer free current account services.

However, when you factor in government levies and the often hidden charges for certain routine transactions, current account banking is still anything but free.

All the big banks have different strings attached to their free services and most are designed to drive you toward electronic banking.

My bank introduced “free” current account services last year, but in my last statement, I was still hit for about €10 of charges. Are there any genuinely free offers out there?

All bank customers, regardless of their current account, are subject to a €10 annual government tax for an ATM card or €20 if it is a Laser card, so this charge must